Economy of Latvia. Statistics, Data and Indicators
Latvia
| 69A- | Credit rank #39 |
| N/A | Quality of life # |
| 36 | Corruption rank#41 |
| 19 | Ease of doing business#19 |
Latvia Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 33.51 USD Billion | 2020 |
| GDP Annual Growth Rate | 6.7 % | 1Q/22 |
| GDP Growth Rate | 3.6 % | 1Q/22 |
| GDP per capita | 15488 USD | 2020 |
| Inflation Rate YoY | 16.9 % | May/22 |
| Interest Rate | 0 % | Jun/22 |
| Unemployment Rate | 7.3 % | 1Q/22 |
| Wages | 1011 EUR/Month | 1035.542 USD/Month | Mar/22 |
| Balance of Trade | -537 EUR Million | -0.55 B USD | Apr/22 |
| Current Account | -238 EUR Million | -0.244 B USD | Apr/22 |
| Foreign Exchange Reserves | 4657 USD Million | 4.657 B USD | May/22 |
| Government Debt | 14632 EUR Million | 14.987 B USD | 1Q/22 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 33.51 USD Billion | 2020 |
| GDP Annual Growth Rate | 6.7 % | 1Q/22 |
| GDP Growth Rate | 3.6 % | 1Q/22 |
| GDP per capita | 15488 USD | 2020 |
| Gross National Product | 7885 EUR Million | 8.076 USD Billion | 1Q/22 |
| GDP Constant Prices | 6304703 EUR Thousand | 6.458 B USD | 1Q/22 |
| GDP per capita PPP | 29932 USD | 2020 |
| GDP From Agriculture | 160367 EUR Thousand | 0.164 B USD | 1Q/22 |
| GDP From Construction | 200808 EUR Thousand | 0.206 B USD | 1Q/22 |
| GDP From Manufacturing | 768825 EUR Thousand | 0.787 B USD | 1Q/22 |
| GDP From Mining | 173572 EUR Thousand | 0.178 B USD | 1Q/22 |
| GDP From Public Administration | 367672 EUR Thousand | 0.377 B USD | 1Q/22 |
| GDP From Services | 836260 EUR Thousand | 0.857 B USD | 1Q/22 |
| GDP From Transport | 454551 EUR Thousand | 0.466 B USD | 1Q/22 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 44.8 % | 2021 |
| Government Budget Value | -55283352 EUR | -0.057 USD Billion | May/22 |
| Government Spending | 1161178 EUR Thousand | 1.189 USD Billion | 1Q/22 |
| Government Debt | 14632 EUR Million | 14.987 USD Billion | 1Q/22 |
| Government Revenues | 1210025 EUR Thousand | 1.239 USD Billion | May/22 |
| Fiscal Expenditure | 1292579 EUR Thousand | 1.324 B USD | May/22 |
| Government Budget to GDP | -7.3 % | 2021 |
| Government Spending to GDP | 43.6 % | 2020 |
| Military Expenditure | 739 USD Million | 0.739 B USD | 2020 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 130 index points | May/22 |
| Export Prices | 138 index points | Apr/22 |
| Food Inflation | 18.2 % | May/22 |
| Gasoline Prices | 2.04 USD/Liter | Jun/22 |
| GDP Deflator | 1.29 % | 1Q/22 |
| Import Prices | 121 index points | Apr/22 |
| Inflation Rate YoY | 16.9 % | May/22 |
| Producer Prices | 148 index points | May/22 |
| Inflation Rate Mom | 4 % | May/22 |
| Core Consumer Prices | 116 Index Points | Apr/22 |
| Core Inflation Rate | 7.1 % | May/22 |
| CPI Housing Utilities | 142 Index Points | May/22 |
| CPI Transportation | 138 Index Points | May/22 |
| Harmonised Consumer Prices | 130 Index Points | May/22 |
| Producer Prices Change | 31.5 % | May/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 3 % | 2020 |
| Balance of Trade | -537 EUR Million | -0.55 USD Billion | Apr/22 |
| Capital Flows | -317000 EUR Thousand | -0.325 USD Billion | 1Q/22 |
| Current Account | -238 EUR Million | -0.244 USD Billion | Apr/22 |
| Exports | 1622 EUR Million | 1.661 USD Billion | Apr/22 |
| External Debt | 37562 EUR Million | 38.474 USD Billion | 1Q/22 |
| Foreign Exchange Reserves | 4657 USD Million | 4.657 USD Billion | May/22 |
| Imports | 2159 EUR Million | 2.211 USD Billion | Apr/22 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Bank Lending Rate | 3.31 % | Mar/22 |
| Gold Reserves | 6.66 Tonnes | 1Q/22 |
| Interbank Rate | 0.17 % | Jul/22 |
| Interest Rate | 0 % | Jun/22 |
| Loans to Private Sector | 4336 EUR Million | 4.441 USD Billion | May/22 |
| Money Supply M0 | 11236 EUR Million | 11.509 USD Billion | May/22 |
| Money Supply M1 | 17665 EUR Million | 18.094 USD Billion | May/22 |
| Money Supply M2 | 18979 EUR Million | 19.44 USD Billion | May/22 |
| Central Bank Balance Sheet | 25972 EUR Million | 26.602 B USD | Apr/22 |
| Foreign Direct Investment | -31 EUR Million | -0.032 B USD | Mar/22 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 500 EUR/Month | 512.138 USD/Month | 1Q/22 |
| Retirement Age Men | 63.75 | 2020 |
| Retirement Age Women | 63.75 | 2020 |
| Unemployment Rate | 7.3 % | 1Q/22 |
| Wages | 1011 EUR/Month | 1035.542 USD/Month | Mar/22 |
| Youth Unemployment Rate | 10.4 % | May/22 |
| Employed Persons | 869 Thousand Person | 0.869 Million Person | 1Q/22 |
| Employment Change | -0.3 % | 4Q/21 |
| Employment Rate | 62.7 % | 4Q/21 |
| Full Time Employment | 762 Thousand Person | 1Q/22 |
| Job Vacancies | 27759 | 27.759 K | 1Q/22 |
| Labor Force Participation Rate | 67.6 % | 4Q/21 |
| Long Term Unemployment Rate | 2 % | 1Q/22 |
| Part Time Employment | 61.7 Thousand Persons | 1Q/22 |
| Unemployed Persons | 53825 Persons | 0.054 Million Persons | May/22 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 20 % | 2021 |
| Personal Income Tax Rate | 31 % | 2021 |
| Sales Tax Rate | 21 % | 2021 |
| Social Security Rate | 34.09 % | 2021 |
| Social Security Rate For Companies | 23.59 % | 2021 |
| Social Security Rate For Employees | 10.5 % | 2021 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Electricity Production | 658 GWh | Apr/22 |
| Industrial Production | 5.3 % | May/22 |
| Mining Production | 0.7 % | May/22 |
| Industrial Production (MoM) | 0.2 % | May/22 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Business Confidence | -0.2 index points | May/22 |
| Corruption Index | 59 index points | 2021 |
| Corruption Rank | 36 place | 2021 |
| Ease of Doing Business | 19 place | 2019 |
| Manufacturing Production | 7.5 % | May/22 |
| Competitiveness Index | 66.98 Index Points | 2019 |
| Competitiveness Rank | 41 | 2019 |
| Economic Optimism Index | 95 Index Points | Apr/22 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | -30.6 index points | May/22 |
| Retail Sales MoM | -1.1 % | May/22 |
| Retail Sales YoY | 4.2 % | May/22 |
| Consumer Credit | 509 EUR Million | 0.56 USD Billion | Dec/18 |
| Consumer Spending | 4038742 EUR Thousand | 4.137 USD Billion | 1Q/22 |
| Households Debt To Income | 30.84 % | 2020 |
Housing Market
| Indicator | Data | Period |
|---|---|---|
| Construction Output | -11 % | 4Q/21 |
